Gold is underpinned by wavering US currency
On Monday, gold managed to surge due to the fact market participants questioned the greenback jump’s near-term durability…
Gold leaps in Asia as North Korea watched for fresh weapons tests
On Tuesday, gold added in Asia after sharp calls from America for the United Nations to impose much tougher sanctions on North Korea for its recent nuclear test of a hypothetical hydrogen bomb.
Gold rallied 0.80% in New York trading at $1,341.04 a troy ounce. Speculation has emerged that the isolated Asian country might dare to test an ICBM on September 9, its national holiday.
The China Caixin services PMI went up to 52.7, which is quite above the 51.8 level supposed. It’s because the private poll published on Tuesday disclosed, backing market sentiment of a consumer-led rebound.
The Caixin manufacturing PMI leapt to 51.6 in August, surpassing a 50.9 level expected, as Friday’s data disclosed, revealing the fastest tempo of new orders for three years.
Overnight, the precious commodity hovered at one-year maximums because fresh threats by North Korea bolstered worries over a potential conflict in the region and also spurred demand for safer assets.
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Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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